Firefly Aerospace Inc. (NASDAQ:FLY) posted financial results for the third quarter after the market close on Tuesday. Here's a look at the key details from the report.

Firefly Q3 Earnings Details

Firefly reported third-quarter revenue of $110.68 million, beating analyst estimates of $102.30 million, according to market data. The space company reported a third-quarter adjusted loss of 45 cents per share, beating estimates for a loss of 48 cents per share.

Total revenue was up 259% on a year-over-year basis. The company's backlog grew to a record $1.7 billion at quarter's end, up from $1.5 billion at the end of the second quarter.

Firefly highlighted multiple achievements in the quarter, including the completion of cleanroom expansion to scale Moon Base spacecraft production and the signing of its first European launch contracts. The company said it also continues to ramp up Alpha Block II manufacturing and execute across multiple national security programs of record.

"Firefly's third quarter reflects the power of our diversified and vertically-integrated business," said Jason Kim, CEO of Firefly Aerospace. "With five Moon missions running in parallel, Alpha Block II moving toward launch, SciTec executing on critical national security programs, and our strategic deal with AST SpaceMobile, we are converting our pipeline and backlog into results."

Firefly exited the quarter with $409.29 million in total cash and cash equivalents, and approximately $125.45 million in short-term investments.

The company raised its full-year 2026 revenue outlook from a range of $420 million to $450 million to a new range of $440 million to $450 million, versus estimates of $439.69 million.

Firefly management will discuss the quarter on an earnings call scheduled for 5 p.m. ET.

FLY Shares Move After Hours

FLY Price Action: Firefly shares were down 0.68% in after-hours on Tuesday, trading at $23.86 at the time of publication, according to market data.